Impossible Foods Inc. is preparing for an initial public offering that could value the vegetable burger maker at about $ 10 billion next year.
The Silicon Valley-based company, which has just launched its first national television ad campaign, is chewing on advertising through a traditional IPO or so-called Special Purpose Acquisition Company (SPAC). , according to a Reuters report on Thursday, citing unnamed people familiar with the matter.
A $ 10 billion IPO would substantially affect the $ 4 billion the company was worth in a round of private financing in 2020. Impossible Foods sponsors, which include venture capital investors Khosla Ventures and Horizons Ventures, and celebrities Serena Williams and Jay-Z, have raised $ 1.5. billion in the private market.
Impossible Foods declined to comment.
The company has been in a fierce duel with rival Beyond Meat Inc. BYND,
amazing collaborations with large retailers and grocery stores, as well as product development efforts with people like McDonald’s Corp. MCD,
and Restaurant Brands International Inc. QSR,
amid changing consumer eating habits and environmental concerns about the meat industry.